Since the 1940s, the demand for labor has expanded equally for both skilled and unskilled workers

Nominal and real wage rates

A) must always change by the same amount. B) must always change in opposite directions by the same amount. C) must always change in the same direction but could change by different amounts. D) could change in opposite directions. E) must always change in the same direction, and the nominal wage rate must change more rapidly than the real wage rate.

The table above shows the demand and costs for a single-price monopolist. When it maximizes its profit, the firm makes an economic profit of

A) $15. B) $25. C) $40. D) $45.